News

Strategy

Diversification across asset classes misleading

The investment diversification strategy implemented by many SMSF members may not be effective, even when it involves multiple asset classes, leaving room for the inclusion of high-grade bonds to provide a truly defensive portfolio component, a global fund manager has said.

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ATO

SMSF Association applauds ATO super project

The SMSF Association has come out in full support of the ATO’s recently published Super Scheme Smart material, which is designed to give taxpayers relevant information and cases studies about illegal retirement planning arrangements, including the associated risks and warning signs.

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Compliance

Advisers at risk with TBAR accountability

While the ATO has landed on the less frequent option for SMSFs lodging transfer balance cap reports (TBAR), advisers must still ensure clients thoroughly understand the timing and process for events-based reporting, a specialist industry law firm has warned.

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Strategy

Strategies must have younger trustee appeal

SMSF advisers must tailor strategies for all demographics to demonstrate the real appeal this retirement savings structure has for all superannuants, a sector expert has said.

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Strategy

Super reforms result in TRIS evolution

Advisers should reconsider the transition-to-retirement income stream (TRIS) strategies they apply for their clients due to the changed characteristics of these structures in the wake of the superannuation reforms, an SMSF expert has said.

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Business News

SMSF fraudster cops 10-year jail term

The former principal of Sherwin Financial Planners and chairman of Wickham Securities, Bradley Thomas Sherwin, was yesterday sentenced to a total of 10 years’ imprisonment on 25 charges concerning the misuse of SMSF assets.

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Estate Planning

Pre-holiday estate planning precautions

The last thing an SMSF member wants to think about at Christmas time is death or incapacity – and particularly their own.

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Superannuation

Government working to ease super pain

Revenue and Financial Services Minister Kelly O’Dwyer has emphasised the federal government is taking considered measures to ensure the super reforms do not cause too much disruption to financial advisers and SMSF trustees.

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ATO

ATO settles TBAR decision for SMSFs

The ATO last week revealed its final position on events-based reporting for SMSFs, announcing this reporting method for SMSFs under its transfer balance account report (TBAR) regime will be limited to those funds with members that have total super account balances of $1 million or more.

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Business News

KPMG signs with Class Super

Accounting and professional services giant KPMG has entered into an agreement to use cloud-based SMSF administration software Class Super.

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